Following are the balances of Bank Sohar for the year ended as on 31st December 2019 (Amounts are in 000’ OMR) PARTICULARS OMR Term loans 7,600 Cash with Central Bank of Oman 20,000 General Reserve 12,400 Share capital 8,000 Non-Banking assets 672 Land and building 2,328 Borrowings from other banks 9,500 Rebate on bills discounted 100 Notes payable 260 Cash credit and Bank overdraft 102,000 Cash with other banks 12,000 Cash in hand 760 Vehicles 5,900 Surplus transferred from income statement 3,790 Corporate securities 50,000 Money at call and short notice 3,600 Current account 84,400 Savings deposits 85,200 Other Adjustments: i. Vehicles was depreciated @ 10% ii. Additional general reserve was created for RO 620 From the above information Prepare Balance sheet and based on that information answer the following ‘3’ multiple choice questions (Do not upload Income Statement in moodle). The total of other liabilities as per the balance sheet will be: a. RO 260,000 b. RO 200,000 c. RO 100,000 d. RO 360,000
Following are the balances of Bank Sohar for the year ended as on 31st December 2019 (Amounts are in 000’ OMR) PARTICULARS OMR Term loans 7,600 Cash with Central Bank of Oman 20,000 General Reserve 12,400 Share capital 8,000 Non-Banking assets 672 Land and building 2,328 Borrowings from other banks 9,500 Rebate on bills discounted 100 Notes payable 260 Cash credit and Bank overdraft 102,000 Cash with other banks 12,000 Cash in hand 760 Vehicles 5,900 Surplus transferred from income statement 3,790 Corporate securities 50,000 Money at call and short notice 3,600 Current account 84,400 Savings deposits 85,200 Other Adjustments: i. Vehicles was depreciated @ 10% ii. Additional general reserve was created for RO 620 From the above information Prepare Balance sheet and based on that information answer the following ‘3’ multiple choice questions (Do not upload Income Statement in moodle). The total of other liabilities as per the balance sheet will be: a. RO 260,000 b. RO 200,000 c. RO 100,000 d. RO 360,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Following are the balances of Bank Sohar for the year ended as on 31st December 2019 (Amounts are in 000’ OMR)
PARTICULARS
OMR
Term loans
7,600
Cash with Central Bank of Oman
20,000
General Reserve
12,400
Share capital
8,000
Non-Banking assets
672
Land and building
2,328
Borrowings from other banks
9,500
Rebate on bills discounted
100
Notes payable
260
Cash credit and Bank overdraft
102,000
Cash with other banks
12,000
Cash in hand
760
Vehicles
5,900
Surplus transferred from income statement
3,790
Corporate securities
50,000
Money at call and short notice
3,600
Current account
84,400
Savings deposits
85,200
Other Adjustments:
i. Vehicles was depreciated @ 10%
ii. Additional general reserve was created for RO 620
From the above information Prepare Balance sheet and based on that information answer the following ‘3’ multiple choice questions (Do not upload Income Statement in moodle).
The total of other liabilities as per the balance sheet will be:
a.
RO 260,000
b.
RO 200,000
c.
RO 100,000
d.
RO 360,000
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